Prime Minister James Marape has ordered an independent forensic investigation into the Government’s Small and Medium Enterprise (SME) Fund to strengthen transparency, accountability, and public confidence in the programme.
Pending the outcome of the investigation, Finance Minister and Kerema Open MP Thomas Opa has been assigned responsibility for the Commerce and Industry portfolio on an interim basis. Win Daki will remain in Cabinet as Minister without Portfolio, while Commerce and Industry Secretary David Ganai has been directed to step aside as the review proceeds.
The Government will appoint a reputable independent audit firm to conduct a comprehensive forensic audit of the SME Fund. The review will cover budget appropriations, Treasury cash releases, transfers to partner financial institutions, loan disbursements, acquittals, and all related financial transactions.
Prime Minister Marape reaffirmed that the SME policy remains unchanged, stating that the programme is designed to channel funding through partner financial institutions including the Bank of South Pacific (BSP), National Development Bank (NDB), and Mama Bank, rather than through direct government disbursement.
“Our commitment to Papua New Guinea’s SMEs remains unwavering. Every kina appropriated for SME development must reach its intended purpose and be used strictly in accordance with Government policy and the law,” Marape said.
He stressed that the administrative measures should not be interpreted as findings of wrongdoing, and reaffirmed the Government’s zero-tolerance stance on corruption.
Marape added that decisive action would follow if any misuse of public funds is uncovered during the investigation.